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Euro zone inflation revised up to 0.2% from 0.1% estimate

Published 16/12/2015, 10:10
Updated 16/12/2015, 10:12
© Reuters.  Euro zone inflation revised up to 0.2%

Investing.com - Consumer price inflation in the euro zone was revised up unexpectedly in November, easing concerns over deflationary pressures, official data showed on Wednesday.

In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 0.2% last month, up from a preliminary estimate of 0.1%. Euro zone inflation rose by 0.1% in October.

The rate has now been below 1% for 26 straight months, well under the European Central Bank's target of near but just under 2%.

Month-over-month, consumer prices inched down 0.1% last month, compared to forecasts for a decline of 0.2% and following a gain of 0.1% in October.

Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 0.9% in November, meeting forecasts and unchanged from an initial estimate.

EUR/USD inched up to 1.0925 from around 1.0921 ahead of the release of the data, while EUR/GBP was at 0.7278 from 0.7272 earlier.

The Investing.com euro index, which tracks the single currency against a basket of six major rivals, rose to 87.90, compared to 87.88 ahead of the report.

Meanwhile, European stock markets were modestly higher. France’s CAC 40 tacked on 0.4%, the EURO STOXX 50 advanced 0.3%, Germany's DAX rose 0.1%, while London’s FTSE 100 inched up 0.7%.

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